Malaysia in Business Today 23rd July 2012

KUALA LUMPUR – The FBM KLCI extended its loss for the third day running on Monday as Asian markets, spooked by the spectre of a deepening eurozone financial crisis that could be a drag on the global economic growth.

European shares fell and the euro hovered near multi-year lows on Monday after two Spanish regions said they would need aid, reigniting fears the country will become the fourth eurozone member to need a full international bailout, according to Reuters. Ten-year Spanish government bond yields rose to a fresh euro-era high of 7.55% after a second region said over the weekend it would ask for central government help to keep it afloat, it said.